PETALING JAYA: Engineering and construction firm Kimlun Corp Bhd
is well-positioned to secure jobs from the upcoming Johor Baru-Singapore Rapid Transit System (RTS), of which construction works are slated to begin in January 2021, said Hong Leong Investment Bank Research.
The research firm said in a report that it estimated roughly RM2.2bil-RM2.6bil worth of civil works are up for grabs for the Malaysian portion.
“Additionally, manufacturing contracts anticipated to be secured this year include the extension of Singapore MRT rail network and the North-South Corridor Expressway, ” it said, adding that based on previous guidance, award size for this ranged between RM80mil and RM120mil and were anticipated to come in by financial year 2020 (FY20).
These comments follow an announcement made by the Johor-based Kimlun on Monday that it had entered into an agreement to acquire a 49% stake in a company for RM40mil.
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